Public Sector Pension Investment Board Raises Position in Cintas Co. (NASDAQ:CTAS)

Public Sector Pension Investment Board lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,764 shares of the business services provider’s stock after buying an additional 1,388 shares during the period. Public Sector Pension Investment Board’s holdings in Cintas were worth $28,545,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Steel Grove Capital Advisors LLC purchased a new position in Cintas during the 2nd quarter worth $298,000. Fidelis Capital Partners LLC boosted its holdings in Cintas by 22.6% during the second quarter. Fidelis Capital Partners LLC now owns 1,440 shares of the business services provider’s stock worth $1,066,000 after purchasing an additional 265 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Cintas by 38,533.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,159 shares of the business services provider’s stock worth $812,000 after purchasing an additional 1,156 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in Cintas by 4.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 61,158 shares of the business services provider’s stock valued at $42,827,000 after buying an additional 2,703 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Cintas by 57.4% during the 2nd quarter. Sei Investments Co. now owns 38,848 shares of the business services provider’s stock worth $27,202,000 after buying an additional 14,170 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley increased their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Stifel Nicolaus lifted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company upgraded shares of Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. UBS Group raised their price objective on shares of Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $186.30.

Cintas Trading Up 0.2 %

Shares of CTAS opened at $204.16 on Monday. Cintas Co. has a twelve month low of $118.68 and a twelve month high of $209.12. The stock has a market cap of $20.71 billion, a PE ratio of 14.10, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $206.76 and its 200-day moving average price is $182.66.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.05. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, equities analysts forecast that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s payout ratio is 10.77%.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.